Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

A reminder to all members that you agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


7 Pages (Click to Jump) V  « < 3 4 5 6 7 >   
 
  
Reply to this topic

NZF, NEW ZEALAND FINANCE HOLDINGS LIMITED
rubra
post Posted: Jul 22 2015, 08:53 AM
  Quote Post


Posts: 142
Thanks: 37


In Reply To: plastic's post @ Jul 1 2015, 08:25 PM

Funny how the Chinese are putting their ag. n vet. assets up for sale so soon after selling HBV to the yanks. And all just as the TPP is coming to a close this months end in Hawaii.

Sadly BLT has no ag. n vet. exposure.

Now if I didn't know any better I would say Enumerate and his cronies have hatched a plan to buy the Chinese assets which are up for a Claytons' sale while BLT struggles on with its supposed IPO.

Chinese company Shanghai Pengxin's total farm assets in New Zealand are up for sale, including 16 farms and a conditional agreement to buy Lochinver Station - but they are unlikely to be sold.

Because the company wants to restructure, the Overseas Investment Office (OIO) requires it to offer its assets for sale to New Zealanders.

The 16 dairy farms totalling 7885 hectares are the former Crafar family farms, bought controversially for $200 million in 2012.

They were listed for sale on Trade Me on Sunday on a "price by negotiation" basis and by Tuesday had been viewed 657 times

 
plastic
post Posted: Jul 1 2015, 08:25 PM
  Quote Post


Posts: 10,430
Thanks: 306


As expected the notice of termination of Administration was put out today. That leaves the company as nothing but a shell with everyone on standby and presumably, not getting paid for their time and energies.

Overnight, we may see Greece rescue a deal from the fire. That would in my humble opinion, open the markets up. In some sectors at least. Perhaps the finance but maybe the biotech as well. So, is there any chance of a biotech company, like a Chinese led dairy company being backed in to the shell?

Time will tell I suppose.






--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jun 30 2015, 12:23 PM
  Quote Post


Posts: 10,430
Thanks: 306


There has been a rumour that a buyer is in the market for F&P Finance. HNZ has denied it to be them. I wonder if it is NZF. After all, this is what Enumerate had to say about it. If it turns out to be true, this will be the renaissance of the finance industry after the 2008 gutting. And there has to be some reason why they are not delisting.

http://www.sharetrader.co.nz/showthread.ph...(NZF-and-NZF010)

QUOTE
this company, with decent capitalisation, will be a candidate for a banking license.




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jun 30 2015, 11:43 AM
  Quote Post


Posts: 10,430
Thanks: 306


This is what I would expect to happen unless the muteness of this company is a mask for something else.

If the Company Registrar is compelled by law to do the following, then what the hell is it doing listed on a stock exchange with its Chairman being a lawyer?

QUOTE
Grounds for removal from register

(1)

Subject to this section, the Registrar must remove a company from the New Zealand register if—

(b) the Registrar has reasonable grounds to believe that—

(i) the company is not carrying on business; and

(ii) there is no proper reason for the company to continue in existence; or




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jun 29 2015, 05:48 PM
  Quote Post


Posts: 10,430
Thanks: 306


Repayment date for the Deed is set down for tomorrow. A notice must be filed by the Administrator. After which the Deed is terminated with NZF becoming a shell waiting for a back door listing.

Now, can anyone at all tell me why these people haven't got a plan for either a back door listing or a delisting? The mute stance they have taken must put them outside of their continuous disclosure regime for after the Deed is terminated, the company immediately becomes unable to meet any expenses to remain on the NZX. Management must be aware of this. Which puts being mute into the status of being unlawful as the company is completely insolvent.

If NZX were on their game they would be delisting the company unilaterally anyway. But that is never going to happen.

So lets see what they come up with in the next few days.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Jun 15 2015, 04:22 PM
  Quote Post


Posts: 10,430
Thanks: 306


See what I don't get is, if they are paying out all the cash and delisting the notes, then why are they maintaining the listing at all?

They have absolutely no means to pay listing fees or compliance costs. Why doesn't the NZX play its role and kick them out?

I get the feeling there is something the market is not being told here. That would leave this company in contravention of its continuous disclosure obligations.

QUOTE
At the Watershed Meeting held on 15 June 2015, the creditors of NZF Group Limited resolved that the Company execute the Deed of Company Arrangement (DOCA), which offers a full and final settlement payment to Note holders prior to the end of June 2015. The DOCA has now been executed by the Company and the Deed Administrators. A copy of the DOCA has been filed with the Registrar of Companies and will be available on the Companies Office website. The effect of execution of the DOCA is to end the administration. The Company is now subject to the DOCA, under which Peri Micaela Finnigan and Tony Leonard Maginness have been appointed jointly and severally as Deed Administrators. The DOCA allows for the Deed Administrators to distribute available funds to creditors, with Senior Creditors being paid in priority to Note holders. Note holders will be paid rateably and in proportion to the face value of their Capital Notes registered on the Company register as at the record date of 25 June 2015. It is anticipated that Note holders will receive approximately 12.7c in the dollar, in relation to their Capital Notes (subject to final calculations). No interest will be paid in respect of any claim. The date of payment will be no later than 30 June 2015. The Trust Deed in respect of the Capital Notes will be terminated upon payment to Note holders, and the Capital Notes will be de-listed from their public listing on the NZX.







--------------------
What did Uncle Mel do to us?
 

Featured Stock Stories





plastic
post Posted: May 23 2015, 08:14 AM
  Quote Post


Posts: 10,430
Thanks: 306


If they are totally broke after making the capital repayment who is going to pay the listing fees? Not sure of the payment schedule for those. Are they annual, quarterly or monthly? Plus the transaction fees involved of the failed reverse merger and the liquidators fees.

Below they have telegraphed they are open to a reverse merger. This might be where the biotech bubble kicks off. Be nice to see a dilution rate of 99.9% instead of letting these cretenous morons have any decent slice of the pie.

QUOTE
2. NZF will maintain its designation as a Main Board listed company; and 3. NZF will be well placed to investigate a capital and operational restructure.




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: May 8 2015, 06:28 PM
  Quote Post


Posts: 10,430
Thanks: 306


Liquidation and a divvy up of the loot by appointing a user friendly liquidator. Is the best these doyens of the business illuminati can come up with?

Not very good from the view I have down here.

What are they going to do with the shell? I mean why don't they back another entity in to the shell instead of delisting it? I assume they are delisting it. They haven't explicitly said. Perhaps only half the story is being told.



--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Feb 17 2015, 07:54 AM
  Quote Post


Posts: 10,430
Thanks: 306


A couple of comments in their last PR. Behind schedule now. Is there a problem?

QUOTE
It is anticipated that draft documentation, which is extensive, will be lodged with the various regulators for their review and approval within the next 10 to 15 business days.

====================

The Board will advise the market once the documentation has been lodged with the regulators for their approval




--------------------
What did Uncle Mel do to us?
 
plastic
post Posted: Feb 12 2015, 11:31 AM
  Quote Post


Posts: 10,430
Thanks: 306


Turns out its Milford Asset Management that's under investigation. Nothing to do with NZF or Hulijich. Not directly anyway.



--------------------
What did Uncle Mel do to us?
 
 


7 Pages (Click to Jump) V  « < 3 4 5 6 7 >

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING